Tag: Money laundering

On May 28, 2013, federal prosecutors unsealed an indictment charging seven men with allegedly operating an organization known as “Liberty Reserve,” which prosecutors allege was established for the sole purpose of creating an illegal digital currency that could be used to launder money. This is a case that anyone involved in businesses that rely in… Read More

We have written previously about Bitcoin, the new form of “peer-to-peer” currency whose proponents expect to be a game-changer in the world financial markets. It’s not clear yet what Bitcoin’s ultimate destination will be, as the currency has had a lot of scrutiny, and undergone a tremendous amount of volatility, lately. In a recent 24-hour period, the value of a… Read More

Timothy Lee at Forbes magazine has reported today that the Financial Crimes Enforcement Network (FinCEN), a branch of the Treasury Department, has issued new guidelines on the legal status of Bitcoin under U.S. money laundering laws. Essentially, Bitcoin dealers have now been placed under the nation’s anti-money laundering regulations and must comply with those rules…. Read More

A year ago, we wrote about the indictment in the Eastern District of Virginia of the executives and founders of Megaupload, one of the leading file-hosting sites on the Web. The charges were copyright infringement through the facilitation of piracy of copyrighted materials, money-laundering, and conspiracy. The site was shuttered after the indictment. The case… Read More

Bitcoin – it sounds like a token you might use to play skeeball at a beachside arcade. It is actually a relatively new, virtual online “currency” being used for payments across the Internet. While some observers have noted that the Bitcoin has been utilized primarily for purchases in the Internet “underworld,” the Bitcoin actually has… Read More

Last month, the U.S. Court of Appeals for the Ninth Circuit upheld a very large upward departure by a U.S. District Judge in Nevada of more than 17 years above the recommended range under the Sentencing Guidelines, based on conduct that the defendant was never convicted of or even charged with. In this highly unusual… Read More

Federal prosecutors often take very seriously the prohibitions on illegal lobbying and on withholding the truth from the FBI. That’s one of the lessons that former U.S. Rep. Mark Siljander probably learned last month when he pleaded guilty to two federal charges relating to his alleged ties to an Islamic charity claimed to have funded… Read More

In a rare occurrence, a so-called deferred prosecution agreement entered into by the U.S. Department of Justice with a target of a criminal investigation has been subject to scrutiny by a federal judge, and the result wasn’t favorable to the government. In fact, a judicial ruling in the case of a fired Miami bank executive… Read More